Why it matters
- The STOXX 600 traded at 632.43 around 12:40 GMT, up 1.11% from Thursday's close, as Germany's DAX gained 1.33% and Britain's FTSE 100 rose 1.11%.
- Telecom stocks fell after SpaceX agreed to buy U.S. low-band spectrum, Trading Economics reported. Deutsche Telekom dropped 7.4% and Vodafone 4.4%.
- Germany's 10-year Bund yield eased to about 3.47% and France's 10-year yield to about 4.82% as Brent crude slipped below $104 a barrel.
Session recap: what happened in this region's trading day, with sources.
European stocks bounced back on Friday, Oct. 9, after touching their lowest in about four months on Thursday. The STOXX 600 traded at 632.43 around 12:40 GMT, up 1.11% from Thursday's close of 625.51, according to Yahoo Finance data. Lower oil prices and bond yields lifted most sectors, but telecom stocks fell sharply.
| Index, about 12:40 GMT | Level | Change |
|---|---|---|
| STOXX Europe 600 | 632.43 | +1.11% |
| DAX (Germany) | 25,136.84 | +1.33% |
| FTSE 100 (U.K.) | 10,557.23 | +1.11% |
| CAC 40 (France) | 7,801.62 | +0.93% |
| FTSE MIB (Italy) | 49,857.25 | +1.13% |
Source: Yahoo Finance chart data. Changes are from Thursday's close.
At that level, the STOXX 600 was up about 0.2% from its Oct. 2 close of 631.35 for the week. Thursday's selloff is in our Europe Thursday recap.
Why are European stocks up on Friday?
Easing oil prices and lower bond yields improved sentiment, Trading Economics said. President Donald Trump said Washington would not attack Iran before the U.S. midterm elections and pointed to productive talks, according to Trading Economics. Brent crude traded near $103.41 a barrel around 12:47 GMT, down 0.8% from Thursday's settlement, Yahoo Finance data showed. Trading Economics also said AI-linked shares were helped by a report that OpenAI expects annualized revenue of $70 billion or more by year end.
Why did Deutsche Telekom shares fall?
Competition worries. Deutsche Telekom fell 7.4% after SpaceX agreed to acquire a nationwide low-band spectrum portfolio in the United States, Trading Economics reported. It said the deal raised competition concerns for T-Mobile US, in which Telekom holds a 54% stake. Other telecom stocks also fell, according to Yahoo Finance data:
- Vodafone dropped 4.4%.
- Telefónica fell 3.9%.
- Orange lost 2.3%.
Main gainers
- RELX rose 4.1% and Sage Group 3.9% in London, Yahoo Finance data showed.
- Zalando gained 3.7%. Heidelberg Materials rose 3.7%, helped by an RBC upgrade, Trading Economics said.
- Siemens rose 3.0% and SAP 3.0%.
- Fresnillo climbed 3.5% as gold rose. Trading Economics said firm copper, silver and gold prices supported miners.
- Tesco added 1.2% after jumping on Thursday on its raised profit guidance.
What happened to European bond yields?
They fell. Germany's 10-year Bund yield eased to about 3.47%, and France's 10-year yield fell to about 4.82%, Trading Economics data showed. Trading Economics said markets scaled back bets on European Central Bank rate hikes and now see the deposit rate at 2.72% by December. It said the gap between French and German 10-year yields narrowed to about 135 basis points from 159 a week earlier.
The euro traded near $1.1198 and the pound near $1.3209 around 12:52 GMT, Yahoo Finance data showed.
What comes next?
Trading Economics said LSEG I/B/E/S data show analysts now expect European third-quarter earnings to grow 21%, up from 19.4% a week earlier, ahead of the reporting season. Asia's session is in our Asia Friday recap, and the U.S. outlook is in our day-ahead guide. The markets page tracks live levels.
Follow the rest of the trading day on our global market today page, with the latest Asia, Europe and Americas session recaps.
Sources
- Trading Economics, Euro area stock market
- Trading Economics, Germany stock market (DAX)
- Trading Economics, United Kingdom stock market (FTSE 100)
- Trading Economics, Germany 10-year bond yield
- Trading Economics, France 10-year bond yield
- Trading Economics, Brent crude oil
- Yahoo Finance, chart data for the STOXX 600, DAX, FTSE 100, CAC 40, FTSE MIB, Brent crude, EUR/USD and GBP/USD
- Yahoo Finance, stock chart data for Deutsche Telekom, Vodafone, Telefónica, Orange, RELX, Sage Group, Zalando, Heidelberg Materials, Siemens, SAP, Fresnillo and Tesco